Issue - meetings

An updated report following Thriving Council Committee meeting on 25 June 2026.  

Members heard from the Head of Finance (Deputy S151) regarding the Annual Treasury Management Report for 2025/26. It was explained that the report updated Councillors on progress against the treasury strategy which was approved by Council in March 2025. The report was required to comply with the CIPFA code of practice on treasury management and also to keep members updated with the current position.

The report showed that interest rates had been above those expected when the original strategy was written and therefore the Council had benefited from increased interest rates on its investments, as reported in the previous budget outturn report, with an average rate achieved of 4.047%. The interest rates had remained high into the new financial year and it was expected to achieve higher returns against budget for at least part of 2026/27, with an average rate of 4.186% as at quarter one.

Through closely monitoring cashflow and also due to the capital programme underspending in year, external borrowing had been kept to a minimum, reducing exposure to increased interest costs payable. The treasury management indicators were detailed throughout the report and it was confirmed there had been no breaches of the prudential indicators during 2025/26.

It was highlighted that the final part of the report was an economics update which had been supplied by the treasury advisors and was useful to help understand the national and international context the Council operates within when undertaking its treasury activities. Members heard that the results for the year were positive against the original treasury strategy.

Members of the Committee thanked the Officer and her team, and, having been proposed, seconded, and voted upon, it was

RESOLVED that the Annual Treasury Management Report and actual Prudential Indicators 2025/26 be recommended to Full Council for approval.